Archive

22 May Variable Annuity

A form of annuity policy under which the amount of each benefit payment is not guaranteed or specified in the policy, but which instead fluctuates according to the earnings of a separate account fund....

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22 May Vacancy Provision

Property insurance provision found in commercial property policies that restrict coverage in connection with buildings that have been vacant for a specified number of days, usually 60 days....

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22 May Usual and Customary Fees

Charges for medical services that refer to the amount approved by the carrier for payment. These charges may be based on rates usually charged by physicians and providers in your area; rate averages compiled by independent rating services; or rate averages compiled by the insurance...

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22 May Usage

Refers to the primary function or purpose in which you intend to operate your vehicle. For example, if you primarily drive your car to and from work, the usage is considered “commute”; if you are self-employed and you primarily drive to see customers, the usage...

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